Beginning January 1st, MSP premiums will be cut in half.
BC Finance Minister Carole James says MSP premiums are unfair and place a significant burden on British Columbians.
In addition to the 50 per cent rate cut, income threshold for full exemption from MSP premiums under the premium assistance program will also be raised by $2,000 as of January 1st.
Enhancements to premium assistance effective New Year’s Day mean someone earning up to $26,000 dollars a year will pay no premiums.
Quick Facts:
* Enhancements to premium assistance, effective Jan. 1, 2018, mean:
* An individual earning up to $26,000 per year will pay no premiums.
* A couple earning up to $29,000 per year will pay no premiums.
* A senior couple earning up to $35,000 per year will pay no premiums.
* A single parent with two children earning up to $32,000 per year will pay no premiums.
* A couple with two children earning up to $35,000 per year will pay no premiums.
Learn More:
For more about the MSP Task Force and to submit your ideas: https://engage.gov.bc.ca/msptaskforce/